Average house prices in Merton at nearly £400,000

The average house price in Merton is now nearly £400,000 according to the latest Land Registry figures.

A home in the borough comes in at an average of £391,353- an increase of 10.6 per cent on last year, and 1.1 per cent up from last month.

This is compared to neighbouring boroughs Wandsworth, £498,236 and Kingston Upon Thames £356,037.

But that seems like small change in comparison to former home of Henry VIII, put on the market for a cool £26m last year making it the most expensive property to ever be offered for sale in the borough at the time.

According to the figures, the average price of property in the capital is £409,881 in comparison with the average for England and Wales of £168,356.

The 10.6 per cent hike is a surprise to one estate agent in the borough - surprising it is not higher.

Adam Cole, of Drury & Cole in Tudor Drive, Morden, said: "I am surprised it is not a higher increase, we have seen a greater increase than that in our area in the last year.

"I would say it is because of a massive demand.

"People weren't moving in the recession, now they are."

Mr Cole said they had seen a surge of people being priced out of Wimbledon and Raynes Park and buying properties in Morden.

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